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5 lecture analysing markets copy.pptx

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5 lecture analysing markets copy.pptx

  1. 1. Analyzing Consumer Markets
  2. 2. What Influences Consumer Behavior? Consumer behavior is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants.
  3. 3. What Influences Consumer Behavior? 1) Cultural Factors 2) Social Factors 3) Personal Factors
  4. 4. Cultural Factors  Culture (material comfort,individualism, freedom, humanitarianism)  Subcultures (nationalities, religions, racial groups, and geographic regions)  Social stratification (1) lower lowers, (2) upper lowers, (3) working class, (4) middle class, (5) upper middles, (6) lower uppers, and (7) upper uppers
  5. 5. Social Factors  reference groups  family  social roles Status
  6. 6. Reference groups  primary groups (the person interacts fairly continuously and informally, such as family, friends, neighbors, and coworkers) secondary groups (religious, professional, and trade-union groups, which tend to be more formal and require less continuous interaction)
  7. 7. FAMILY  family of orientation (consists of parents and siblings) Almost 40 percent of families have auto insurance with the same company as the husband’s parents.  family of procreation (person’s spouse and children) more than two-thirds of 13- to 21-year-olds make or influence family purchase decisions on audio/video equipment, software, and vacation destinations
  8. 8. ROLES AND STATUS People choose products that reflect and communicate their role and their actual or desired status in society.
  9. 9. Personal Factors  AGE AND STAGE IN THE LIFE CYCLE  OCCUPATION AND ECONOMIC CIRCUMSTANCES (Computer software companies, design different products for brand managers, engineers, lawyers, and physicians.)  PERSONALITY AND SELF-CONCEPT LIFESTYLE AND VALUES (money constrained or time constrained)
  10. 10. Key Psychological Processes 1. Motivation: Freud, Maslow, Herzberg 2. Perception 3. Learning 4. Emotions 5. Memory
  11. 11. Model of Consumer Behavior
  12. 12. The Buying Decision Process: The Five-Stage Model
  13. 13. Problem Recognition The buying process starts when the buyer recognizes a problem or need triggered by internal or external stimuli.
  14. 14. Information Search 1. The milder search state is called heightened attention. At this level a person simply becomes more receptive to information about a product. 2. An active information search: looking for reading material, phoning friends, going online, and visiting stores to learn about the product.
  15. 15. INFORMATION SOURCES I. Personal. Family, friends, neighbors, acquaintances II. Commercial. Advertising, Web sites, salespersons, dealers, packaging, displays III. Public. Mass media, consumer-rating organizations IV. Experiential. Handling, examining, using the product
  16. 16. Successive Sets Involved in Consumer Decision Making brand-dominant hierarchy
  17. 17. Evaluation of Alternatives  BELIEFS AND ATTITUDES EXPECTANCY-VALUE MODEL
  18. 18. Purchase Decision 1. Attitudes of others (The more intense the other person’s negativism and the closer he or she is to us, the more we will adjust our purchase intention.) Paranormal activity (15000 vs 100 million) 2. Unanticipated situational factors
  19. 19. Unanticipated situational factors 1. Functional risk—The product does not perform to expectations. 2. Physical risk—The product poses a threat to the physical well-being or health of the user or others. 3. Financial risk—The product is not worth the price paid. 4. Social risk—The product results in embarrassment in front of others. 5. Psychological risk—The product affects the mental well-being of the user. 6. Time risk—The failure of the product results in an opportunity cost of finding another satisfactory product.
  20. 20. Postpurchase Behavior  POSTPURCHASE SATISFACTION  POSTPURCHASE USES AND DISPOSAL

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